Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
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LONDON - (Sharecast News) - London stocks looked set for a positive open on Monday after closing at another record high at the end of last week.
The FTSE 100 was called to open around 50 points higher. . .
Brokers trade history bit of a mess with the non tradable / rights in out in out .
Mistake with numbers sold 80 more then planned, eating into previous buy a little.
Sold before at 83p on 28/5/2020 must of been to fund the rights non tradeable booked 21/5/2020
Sold a tranche at 84p up 5.33% up today .
PS 'The Naked Trader' also bought shares in Costain Plc (on 10th January 2024) and his position remains open; so he clearly sees no need to sell any of his holding yet either. Nice signs all round. . .
As I bought another 10,000 shares yesterday morning, following the Sunday Times Tip posted here (so a big thank you to Roguemale1 for sharing it, as I had not noticed it myself).
I just thought that it has now been tipped [very recently], by Investors Chronicle, The Daily Telegraph and now The Sunday Times (plus, but to a much less serious extent, Motley Fool!!), so it might be prudent to follow their lead and buy more! So I did!
Not one for being smug or complacent myself, but at present, I am feeling that we might well be at the start of a nice
£1+ journey this year. . . ATB
It's breaking out big time
Its nice to see it breaking through the 80p barrier. Just needs to hold it and build further confidence.
And these guys today .
Above 79p today.
https://www.fool.co.uk/2024/04/22/2-overlooked-cheap-shares-im-tipping-to-eventually-soar/
Some say theirs the kiss of death .
I have had these years .
Above the rights 9 /7/20 @ 62p
Chris_Magpie - Thanks for the headsup re social housing development. Might have confused an article I read with Vistry..
Thanks very much Roguemale1 for this. . .
I also found this very truncated version:
"The Sunday Times's Lucy Tobin judged construction and engineering group Costain's shares to be a 'buy. Yes, the outfit was "vulnerable to "the ebbs and flows of contract-awarding mandarins," she said. But over four-fifths of its sales for the current year had already been booked and according to its boss, Alex Vaughan, the value of that was nearly three times 2023's earnings.
The company had also "dramatically" cut its pension fund contributions. Furthermore, the shares were trading on just five times earnings for 2024. There was also a relatively small difference between its £164m of net cash on hand and its £217m market cap. Tobin said that was proof of the shares' good value". END
I'm still on hard copy! But with thanks to someuwin across the road.
The City has noticed, to an extent: Kier and Costain’s shares are 20 per cent higher than at the start of the year; Balfour Beatty and Galliford Try are up about 7 per cent. But they’re still a long way from their past peaks. Costain, for example, is now trading at 75p, less than half its pre-pandemic share price of 194p, while back in May 2019, its shares changed hands for £3. Since then, the firm, founded in Liverpool in 1865 has been punished for booking expensive charges for badly priced energy and road contracts, and diluted by a £100 million rights issue at the start of the pandemic, required to secure the balance sheet.
But Costain is a vastly improved outfit from the housebuilder it was long ago. It has been transformed into an infrastructure contractor with tentacles in many a sector. It works with most of the major water suppliers on pollution-kerbing upgrades, with National Highways, Transport for London and National Rail, on the government’s contracts to decommission first-generation nuclear sites, and in defence. Costain looks poised to benefit from the UK’s likely Labour-led investment in more infrastructure projects. As Joe Brent, head of research at Liberum, explained: “We are optimistic about the outlook for infrastructure and believe Costain is the purest trade on this theme.”
Last month, the firm posted a 10.5 per cent rise in adjusted operating profit to £40 million for 2023. This year, more than 80 per cent of its revenues have already been booked. Chief executive Alex Vaughan pointed out that the value of this is about three times last year’s earnings. This confidence helped Costain bring back its annual dividend. Its cashflow is smoother due to recent cost-cutting tinkering: for example, its pension fund contributions were dramatically slashed following a review last year. Net cash stands stronger at £164 million, from £124 million a year ago. The relatively small gap between those cash reserves and Costain’s £217 million market capitalisation hammers home its good value.
Of course, the firm remains vulnerable to the ebbs and flows of contract-awarding mandarins, as has been seen with HS2. But analysts predict its pre-tax profit will exceed £52 million next year, and Costain’s shares are trading on just five times earnings for this year. It has a packed order book of blue-chip customers and has rebuilt its reputation: Buy Costain."
Roguemale1 - Are you able to paraphrase the article at all, as a link won't work for us 'non-subscribers'!?
I'd be very keen to the rationale for the recommendation. . . .ATB
LONDON - (Sharecast News) - UK stocks are expected to rise for the fourth straight day on Monday as investors shake off recent concerns about monetary policy tightening and geopolitics ahead of a busy week for economic data and corporate earnings.
The FTSE 100 is being called to open around 70 points (+0.9%) higher than Friday's close of 7,895.85 as it continues to edge closer to the 8,015.63 record closing high reached earlier this month.
I hope it does better than some of her recent offerings!
Just to say Costain don't do housing sold homes division decades ago. Afraid benefits in that sector went to Redrow who bought it from them.
But agree still lots of money needing spending in Infrastructure rail,highways,water,nuclear,defence etc
Ps and given that this isn't yet that ex-divi date that I am patiently waiting for, I am a little surprised to see it down again today. On ex-divi date of course you would expect the share price to pull back by the same amount as the dividend being paid. But today - again? Not what I might have expected!
I'm also going to be adding to my holding here but once it has gone ex-dividend, as I'm not personally very interested in the dividend on this particular share. . . ATB
I decided to add some into my ISA today. I can't help thinking that a new Labour government will want to start with a splash and embark on various civil and social engineering projects which would be a great fit for Costain. Housing ought to be a priority, surely? Our general infrastructure is creaking under years of lack of investment. Taxpayers like to see some of their contributions being spent for the benefit of the greater society. Anyway, fingers crossed that Rachel Reeves will put some business our way..
That was my 'Buy' at 10:02 this morning (15,000 shares at 78.86p per share).
I'm not in this for the Dividends myself. I reckon that the capital appreciation alone, over the next twelve months, should
do the trick. . . . ATB
Hercules Site Services cements labour supply partnership with Costain
Https://www.thisismoney.co.uk/money/investing/article-13304215/20-dirt-cheap-British-stocks-experts-say-make-fortune.
Scroll down to Number 15
Ha Ha Playtowin- Gotta love a bit of sarcasm on a holiday weekend!
How did this ever get so low with such profitability and so much cash sitting on the balance sheet.
Clearly the big seller has been cleared out.
A share is only worth what someone will pay you for it, but a dividend is non negotiable. Once interest rates settle then the good businesses will step forward and their share price will move accordingly. May take a couple of years yet but take the divis in the meantime. This will get re rated.